Digital art platform Niio has recently announced that is has closed $15 million Series A funding following a strategic partnership with Samsung Displays. The capital, according to the company, will be used to grow its artist community and scale its in-app enabled subscription and purchase platform to include a trading-enabled marketplace for NFTs and other digital art assets.
“Digital art has become an accepted, mainstream medium with the market accelerating largely due to the explosive growth of NFTs,” said Niio CEO and co-founder Rob Anders. “The transformation people are experiencing is the most significant and consequential moment for culture in decades, making new kinds of art accessible and experienced on screens in ways like never before.”
Niio’s Commitment to the Artists’ Community
Using Niio’s technology, users are able to stream digital artwork on any digital screen, bridging the gap between art and creating a platform similar to what music and entertainment streaming services have done for albums and movies.
By providing Niio’s tools to a global community of 6,000 galleries, institutions and artists, Niio’s platform and blockchain aims to make a tool for the creative community where artists are able to freely distribute, manage, monetize and preserve their work.
“We have realized our vision for a platform that first and foremost empowers artists and enables their work to be experienced digitally and available globally. We are gratified by the trust that more than 6,000 artists have placed in us — as we enable them to publish, manage protect and monetize their life’s work,” Niio co-founder Oren Moshe said in an article with TechCrunch.
Approximately 10,000 global business customers have been using the Niio platform for the past two to three years, Anders said. Clients range from art professionals, including galleries, museums, studios and art schools, to luxury brands, hotel chains and real estate developers, who subscribe and display curated art streams from the 15,000 premium works available on the platform, to millions of people across public spaces and places in over 30 countries, Anders said.
The subscription service is set to launch at the end of 2021 prior to the release of Niio’s NFT marketplace.